ZIM Integrated Shipping reported quarterly losses of $(0.50) per share. This is a 103.52 percent decrease over earnings of $14.19 per share from the same period last year.
The company reported quarterly sales of $1.37 billion which missed the analyst consensus estimate of $1.57 billion by 12.48 percent. This is a 63.02 percent decrease over sales of $3.72 billion the same period last year.
ZIM Integrated Shipping shares were down 8.79% in premarket trading.
ZIM Integrated Shipping Services will not pay a dividend to shareholders on account of the net loss recorded in the first quarter of 2023.
The company's dividend policy remains unchanged, distributing 30-50% of annual net income as a dividend to shareholders. Dividend payments will be made on a quarterly basis at a rate of 30% of the net quarterly income of the first three fiscal quarters of the year. The total annual dividend amount to be distributed by the Company (including any interim dividends paid during the first three fiscal quarters) will total 30-50% of the annual net income.
